Northland Securities Reaffirms Buy Rating for Inseego Corp. (NASDAQ:INSG)
Inseego Corp. (NASDAQ:INSG)‘s stock had its “buy” rating restated by equities researchers at Northland Securities in a report issued on Monday.
A number of other equities research analysts have also recently commented on the stock. ValuEngine cut shares of Inseego Corp. from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 16th. Zacks Investment Research cut shares of Inseego Corp. from a “hold” rating to a “sell” rating in a research report on Monday, May 1st. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $1.25 target price on shares of Inseego Corp. in a research report on Thursday, June 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $2.00.
Inseego Corp. (INSG) traded down 4.17% during trading on Monday, reaching $1.15. 47,639 shares of the company traded hands. The company’s market capitalization is $64.37 million. Inseego Corp. has a 52 week low of $0.87 and a 52 week high of $3.80. The firm has a 50-day moving average price of $1.26 and a 200-day moving average price of $1.89.
Inseego Corp. (NASDAQ:INSG) last posted its quarterly earnings data on Monday, August 7th. The technology company reported ($0.21) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.21). The company had revenue of $59.91 million during the quarter, compared to analysts’ expectations of $55.11 million. Inseego Corp. had a negative net margin of 32.34% and a negative return on equity of 204.22%. Analysts forecast that Inseego Corp. will post ($0.34) earnings per share for the current fiscal year.
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Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new stake in shares of Inseego Corp. during the fourth quarter worth about $1,748,000. Goldman Sachs Group Inc. raised its stake in shares of Inseego Corp. by 2,239.6% in the first quarter. Goldman Sachs Group Inc. now owns 696,502 shares of the technology company’s stock worth $1,456,000 after buying an additional 666,732 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Inseego Corp. during the fourth quarter worth about $1,485,000. Vanguard Group Inc. raised its stake in shares of Inseego Corp. by 2.4% in the second quarter. Vanguard Group Inc. now owns 1,050,470 shares of the technology company’s stock worth $1,313,000 after buying an additional 25,100 shares in the last quarter. Finally, Spark Investment Management LLC raised its stake in shares of Inseego Corp. by 55.1% in the first quarter. Spark Investment Management LLC now owns 58,800 shares of the technology company’s stock worth $122,000 after buying an additional 20,900 shares in the last quarter. Institutional investors and hedge funds own 12.24% of the company’s stock.
Inseego Corp. Company Profile
Novatel Wireless, Inc is a provider of intelligent wireless solutions for the mobile communications market. The Company’s range of products includes intelligent mobile hotspots, universal serial bus (USB) modems, embedded modules, integrated asset-management and mobile tracking machine-to-machine (M2M) devices, communications and applications software and cloud services.
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